COTTON PRICE | Market Reports

Cotton Market Bulletin – 13th February 2023

Published: February 13, 2023
Author: TEXTILE VALUE CHAIN

Yarn Prices as on 13th February 2023: Prices FOB / Kg Indian Port
  LC at Sight:
Ne 20/1 Carded Hosiery Yarn USD 2.85  /  INR 232.00
Ne 20/1 Combed Hosiery Yarn USD 3.03  /  INR 247.00
Ne 21/1 Carded Weaving Yarn USD 2.85  /  INR 232.00
Ne 26/1 Combed Hosiery Yarn USD 3.14  /  INR 256.00
Ne 30/1 Carded Hosiery Yarn USD 3.06  /  INR 249.00
Ne 30/1 Combed Hosiery Yarn USD 3.21  /  INR 262.00
Ne 32/1 Carded Weaving Yarn USD 3.18  /  INR 259.00
Ne 34/1 Combed Hosiery Yarn USD 3.42  /  INR 279.00
Ne 40/1 Combed Hosiery Yarn USD 3.61  /  INR 294.00
Ne 40/1 Carded Weaving Yarn USD 3.36  /  INR 274.00
Ne 30/2 Carded Hosiery Yarn USD 3.36  /  INR 274.00
Ne 32/2 Combed Knitting Yarn USD 3.73  /  INR 304.00
Ne 32/2 Carded Hosiery Yarn USD 3.42  /  INR 279.00
Ne 40/2 Combed Hosiery Yarn USD 4.16  /  INR 339.00
   
Ne 30/1 Combed Compact Weaving Yarn USD 3.42  /  INR 279.00
Ne 40/1 Combed Compact Weaving Yarn USD 3.73  /  INR 304.00
Ne 50/1 Combed Compact Weaving Yarn USD 4.04  /  INR 329.00
Ne 16/1 Open End Yarn USD 2.32  /  INR 189.00
Ne 21/1 Open End Yarn USD 2.50  /  INR 204.00
Ne 24/1 Open End Yarn USD 2.81  /   INR 229.00

 

MARKET OUTLOOK
• Today, the BSE Sensex opened at a level of 60720.81 points with a gain of 38.11 points. On the other hand, NSE’s Nifty opened at a level of 17876.60 points with a gain of 20.10 points.

• Today, the rupee opened at a level of Rs 82.69 against the dollar with a weakness of 19 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.50 against the dollar with a weakness of 1 paise.

• Cotton futures trading, which was suspended by the Multi Commodity Exchange of India for the last five months, will resume from Monday. The cotton futures was suspended to redesign it to align with domestic markets.

• LAHORE: Cotton seed companies allege that unre­gistered players in the market are selling unprocessed and spurious seed in Sindh and coupled with other factors this is damaging crop yield in the province.

North Zone:

Cotton traded steady tone across major spot market of north India on Monday. Prices were quoted up to 25-50 / maund Saturday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab,  Rs 6,300-6,400 a maund. In Haryana, it offered at Rs 6,275-6,425 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,475-6,525 a maund.

Central Zone:

Cotton spot prices steady tone across west India market on Monday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 62,000-62,500 a candy and 28.5mm (RD-74) quoted at Rs.61,000-61,500 a candy. V-797 trade at Rs 45,500-46,500 (12-15% trash condition) a candy for February / March delivery. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 61,000-61,500 a candy.

South Zone:

Cotton spot price was steady tone across the major trading centers of south India.

INTERNATIONAL UPDATES
US Cotton Futures :

Friday Cotton Fades Into Weekend: Cotton futures ended the last trade day of the week with 23 to 41 point losses. That left March as a net 16 point loss for the week.  USDA’s weekly classings data showed 91,453 bales of upland cotton was classed this week bringing the season total to 13.517 million bales. USDA’s weekly Cotton Market Review showed 21.683 bales were sold at spot this week, averaging 82.86 cents. The Cotlook A Index dropped by 20 points on 2/09, to $1.00 75/100 /lb. USDA’s DSQ had 2,841 bales sold at spot in the 2/09 report for an average price of 83.32 cents. The FSA reduced the week’s AWP for cotton by 83 points to 74.41 cents/lb.

Mar 23 Cotton  closed at 85.27, down 23 points,

May 23 Cotton  closed at 85.58, down 36 points,

Jul 23 Cotton  closed at 86.07, down 38 points

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